A view shows the Total Tower, French oil giant Total headquarters, at La Defense business and financial district in Courbevoie near Paris, France, February 25, 2016. REUTERS/Jacky Naegelen
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Iran and France's Total SA expect to sign a contract to develop part of the world's biggest natural gas field in the next few weeks in what would be the Gulf country's first investment by an international energy company since sanctions were eased last year. Total and China National Petroleum Corp. signed a "heads of agreement" with National Iranian Oil Co. in November to develop phase 11 of the South Pars gas field, a deal that was valued then at $4.8 billion. CNPC didn't immediately respond to emails seeking comment on whether the Chinese company is still involved in South Pars. Iran's Petropars was also part of the preliminary agreement in November.
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